Americans are worried about paying back their student loans
FOX NewsJUL 2023
Biden Admin. Forgives $4.8B in Student Debt for 80K Borrowers
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Image copyright: Anna Moneymaker/Getty Images News via Getty Images (Oct. 21, 2023)
The Spin
Democratic narrative
While it is unfortunate that the Supreme Court has decided to stand in the way of much-needed debt relief for Americans, the Biden Administration has many more tools in the box to help borrowers. Democrats have banded together to implore the President to use his executive authority to reduce the outstanding debt and reduce the cost of higher education so that future generations of students are not crippled with this undue and unjust burden.
Republican narrative
SCOTUS was clear in the authorities provided to the President when it comes to student loan debt relief. These announcements of new debt relief rollouts are shameful and an intentional plan by the Administration to circumvent the decision of the high court. While trying to appease his far-left followers, the President has alienated and disenfranchised the Americans who took responsibility and paid off their debts with no help from a socialist government — a move that will surely be reflected at the polls.
Metaculus Prediction
There is a 50% chance the US student loan bubble will "pop" by January 2037, according to the Metaculus prediction community.
